The trading models unpinning products on shop shelves rarely make it into the public eye, nor do the stories of the producers behind them. For example, how many consumers question how much a coffee farmer or cotton worker will get paid in order for them to have their latest caffeine fix or wardrobe addition? Not many is the likely answer.

Fair trade is one type of alternative business model that aims to protect smallscale farmers and guarantee them a fair price irrespective of fluctuations in global markets. It also pays an additional 'premium' to the farmer organisation, which can then be invested in the social, environmental or economic development of the local area.

While the fair trade model offers clear benefits to the producer (higher prices, access to markets and community development to name but a few), there are also drawbacks to the system and it is not the only mechanism that can ensure farmers receive the wage they deserve.

So what are the alternative business models and where is innovation taking place?

In his blog last month, Steven Macatonia, co-director of Union Hand-Roasted Coffee, explained the benefits of a direct trade system where the buyer and producer establish long-term relationships and the amount the farmer is paid is linked to the quality of crop sold. This close relationship also means the buyer can identify areas within the farming practice that require investment and work within the community to help make these improvements.

The co-operative business model is another example of doing business differently, whereby members own and run the company, sharing profits, democratising decisions and empowering producers to steer its future direction. Farmers, employees and customers can all become members with an equal say in what the co-operative does.

With any business model, transparency is vital to fair and open trading relationships where the value chain is clear to both customers and producers. Regular communication with farmers, mutually agreed upon contracts that are available to the public and shared best practice are all mechanisms that are already in use and help promote transparency. What are the new models of transparency being developed and how can they drive accountability in the value chain?

Join us for this live discussion to explore ways of doing business differently through alternative models of trade, sharing value and incentivising innovation.